HTX Research releases latest stablecoin research report: exploring the profound impact of stablecoins on reshaping the global payment system

PANews reported on July 31st that HTX Research released "The New Order of Stablecoins: Reshaping Global Payments, Institutional Rights Confirmation, and the Capital War (Part 1)." The report systematically analyzes how stablecoins have evolved from on-chain transaction tools to global financial infrastructure, reshaping the landscape of cross-border payments, trade settlement, and capital flows. The report indicates that by 2024, the total on-chain transaction volume of stablecoins had reached $15.6 trillion. Stablecoins are gradually replacing traditional high-cost settlement systems like SWIFT and becoming a key channel for capital flows in developing countries. With the gradual clarification of regulatory frameworks such as the US GENIUS Act, the EU MiCA Regulation, and the Hong Kong licensing system, stablecoins are entering a critical window of opportunity for comprehensive compliance and institutional development. The report proposes a two-stage expansion path for stablecoin development: the first stage, led by traditional financial institutions such as Visa and PayPal, will promote the integration of stablecoins into the global payment system, with initial implementation in scenarios such as cross-border settlement, trade payments, and commodity trading. The second stage will rely on regulatory breakthroughs, particularly the US SEC's relaxation of security token issuance (STO) requirements, which will drive the on-chain integration of traditional assets such as bonds, stocks, and funds. At that point, stablecoins will become not only payment tools but also the liquidity anchor and clearing core of the on-chain financial system. HTX Research believes that the future growth driver of stablecoins will no longer be limited to the crypto industry, but will instead stem from their widespread cross-chain, cross-border, and cross-system settlement applications, gradually becoming a key component of the global "digital dollar operating system."

HTX Research releases latest stablecoin research report: exploring the profound impact of stablecoins on reshaping the global payment system

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